Category: Forex Strategies

Roulette is a game of chance, and classified as such, because it involves the prediction of future events. In this sense, it is similar to online trading. Traders have to predict how a currency, stock or other financial asset will be valued in the future, while roulette players have to predict where the ball will land.

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Forex trading can quite profitable but that profit is not earned by lucky guesses or hunches. While it would definitely be a great feeling to say “I don’t need any strategies, I trade using my gut.” Sadly, that’s not how things work. To be able to profit from forex trading, you need an effective strategy(s).

There are a number of different phenomena in forex trading. One of those is known as a breakout. According to Investopedia, a breakout is basically a security’s price movement through a known level of resistance that is typically followed by an increased amount of volatility and heavy volume. Or in other words, it is when the currency pair’s price goes outside of its known resistance or support level with an increased volume.

Scalping in Forex trading can be quite time-consuming, but it is still a very rewarding approach to trade currencies. Basically, this technique requires at least some experience of trading FX and the ability to analyze the market. Scalpers usually hunt for small profits using high leverage. On top of that, they enter the market and quit several times a day. EUR/USD pair is a popular choice for scalping strategies. In this article, we would like to present one of the simplest ways to scalp EUR/USD.